Calumet Specialty Products (NASDAQ:CLMT) investors will soon find a few more coins in their pockets. The company announced a modest lift in its distribution, to $0.685 per unit, to be handed out on Aug. 14 to shareholders of record as of Aug. 2. That amount is $0.005, or 0.7%, higher than the firm's previous payout of $0.68, which was disbursed in May.

The new dividend annualizes to $2.74 per share. That yields 8.3% at Calumet's current unit price of $32.98.

The company also set the release date for its Q2 results. This will take place on Aug. 7 before the market opens; management will hold a conference call at 1 p.m. ET to discuss the quarter.

Fool contributor Eric Volkman has no position in Calumet Specialty Products. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.